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In difficult times for the global economy, the world needs win-win cooperation

May 31, 2022

Latest company news about In difficult times for the global economy, the world needs win-win cooperation

Xinhua News Agency, Davos, Switzerland, May 26 (International Observation) The world needs win-win cooperation at a difficult time for the global economy


The 5-day World Economic Forum annual meeting ended in Davos, Switzerland on the 26th. The theme of the annual meeting was "Historical Turning Point: Government Policy and Business Strategy". The overlapping of multiple challenges such as geopolitical conflicts, repeated epidemics, and climate change have put pressure on the world economy. It is urgent for the representatives from all walks of life in politics, business, and academia to find ways to deal with them. At the forum, calls for enhancing trust, strengthening cooperation, and promoting global mutually beneficial and win-win development have grown louder.


The recovery faces many challenges


At this year's Davos Forum Annual Meeting, a number of experts in related fields warned that the global economy is facing multiple crises, increasing downward pressure and the risk of recession.


According to a survey by the World Economic Forum, many economists believe that the global economic situation in 2022 is not optimistic, with rising inflation, falling real wages, increasing food security risks, and pressure on economic activities.


Georgieva, President of the International Monetary Fund (IMF), said at the forum that "2022 will be a difficult year". The IMF lowered its growth forecast for 143 economies this year, which account for the largest share of the global economy. 86%.


Sadia Zahidi, managing director of the World Economic Forum, said that the epidemic and the Russian-Ukrainian conflict will have a profound impact on the world economy and may wipe out the growth gains of the past few years.


Spanish Prime Minister Sanchez said that the Russian-Ukrainian conflict has triggered an unprecedented global food crisis, which has had a huge impact on the most vulnerable countries and regions, families and individuals.


German Deputy Chancellor Robert Habeck said that the world is currently facing inflation, energy, food, climate change and other intertwined crises. "If these issues are not resolved, there is a real fear of a global recession with huge implications for global stability."


A call to join hands to meet challenges


The century-old changes superimpose the epidemic of the century, instability and uncertainty are rising, and the global economic trend is a cause for concern. Close or open, confrontation or cooperation, zero-sum game or mutual benefit and win-win? Facing the crossroads of history, many people of insight at the forum called on all countries to join hands to meet the challenges and practice true globalization. There are more than a dozen discussions on globalization issues at the annual forum, which shows the depth of anxiety and desire.

Nobel Laureate in Economics Stieglitz told Xinhua that the world is indeed at a difficult time for global cooperation. "People accuse globalization of bringing some problems, but it's not globalization, it's capitalism."


China's proposition of concentrating on defeating the epidemic, promoting the stable recovery of the world economy, revitalizing the cause of global development, and abandoning the Cold War mentality was highly recognized by the participants.


World Economic Forum President Bolger Brende said that global solutions are needed to meet global challenges. "All human beings are in one boat, and we must work together to meet the challenges." He called on all countries to avoid trade protectionism and beggar-thy-neighbor policies, continue to cooperate on global value chains, and promote world economic recovery in a win-win manner.


Adam Tuzer, director of the Institute of European Studies at Columbia University, said that globalization is resilient, and "China is an inseparable and important part of the global trading system."

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